MTG ACQUIRES RADIO STATIONS IN LATVIA Modern Times Group MTG AB has acquired a holding in a national radio network in Latvia. MTG today became the owner of 40 per cent of nationwide-coverage Latvian Radio Rigai. The eight stations in Radio Rigai broadcast the same programmes. The network is one of two privately owned networks in Latvia that cover the entire country. MTG has management responsibility for the radio stations, which target the 25-49 age group. Its format is "AC", Adult Contemporary, which means playing artists such as Eagle Eye Cherry, Madonna and Phil Collins. The co-owners, besides MTG, are local investors and the president of the network. In December MTG acquired 49 per cent of an Estonian network that covers some 50 per cent of the Estonian population and 70 per cent of the market for advertising. MTG also has management responsibility in Estonia, where the format has been changed to the quieter Soft AC and the stations named Easy FM. For further information, please visit www.mtg.se, or email info@mtg.se or contact: Hans-Holger Albrecht, President & CEO tel: +46 8 562 000 50 Matthew Hooper, Investor & Press Relations tel: +44 20 7321 5010 Modern Times Group MTG AB has seven business areas: Viasat Broadcasting (free-to-air and pay TV channels in nine countries), Radio (seven networks in five countries), New Media (the Everyday interactive TV portal, Internet portal, Mobile portal, and teletext services), Publishing (financial news and information services), Modern Interactive (home shopping, e-commerce, and logistics), SDI Media (subtitling and dubbing services), and Modern Studios (content production and library). Modern Times Group MTG AB's class A and B shares are listed on the Stockholmsbörsen O-list (symbols: MTGA and MTGB) and on the Nasdaq National Market in New York (symbol: MTGNY). MODERN TIMES GROUP MTG AB Skeppsbron 18, Box 2094, SE-103 13 Stockholm, Sweden Tel. +46 8 562 000 50 Fax. +46 8 20 50 74 (Publ) Registration No. 556309- 9158 www.mtg.se ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/01/07/20040107BIT00230/wkr0001.doc http://www.waymaker.net/bitonline/2004/01/07/20040107BIT00230/wkr0002.pdf